(Reuters) - Proxy advisory firm Institutional Shareholder Services (ISS) recommended that Callon Petroleum Company shareholders vote in favor of its acquisition of Carrizo Oil & Gas Inc, the two oil and gas producers said on Wednesday.
ISS had earlier urged shareholders to vote against the original Callon-Carrizo merger.
Callon had on Thursday cut its offer for rival Carrizo to about $723 million from $1.2 billion in July.
Reporting by Arunima Kumar in Bengaluru; Editing by Rashmi Aich
